U.S., Europe stocks higher as euro gains
Evan McDaniel | firstname.lastname@example.org
The S&P 500 futures are up 3.50 points. or 0.26 percent. to 1344.50 after trading as low as 1336.50. The Nasdaq 100 futures are higher by 11.20 points, or 0.45 percent, at 2599.25 with 2600 remaining as resistance.
European indexes are higher as well, with the U.K. FTSE 100 leading the region up 0.88 percent and the German DAX up 0.53 percent.
The U.S. and European markets have gotten a boost from the euro trading higher against the dollar by 0.33 percent to 1.2632. The resistance level that many traders are seeking to convert into support is the 1.27 area, which was briefly visited Sunday evening after Greece's elections.
Commodity markets reflect the equity gains as oil trades higher by 0.35 percent to 83.88 after dipping as low as 82.60. Spot gold prices are higher by 4.60 points, or 0.28 percent, at 1631.60 with resistance remaining at the 1635.40 level.
Copper prices are lagging other commodities a bit but still up 0.09 percent to 3.3985. Yesterday's support held early morning trading at the 3.38 level.
Despite copper remaining in the green, Asian indexes fell as they caught up to yesterday's concerns on Spanish debt problems. Japan's Nikkei 225 was down 0.75 percent, while Hong Kong's Hang Seng slipped 0.06 percent.
In stock-specific news, Oracle is up nearly 5 percent in pre-market trading after reporting quarterly earnings above estimates estimates. Shares of U.S. banks are largely higher, led by a gain of nearly 1 percent in JP Morgan. Microsoft are higher by about 0.5 percent after unveiling its first tablet last night.